Well, well, well! The US Securities and Exchange Commission (SEC) has finally decided to play nice with the crypto world by giving a thumbs up to the first-ever interest-bearing stablecoin. Yes, you heard that right! Figure Markets, a digital asset firm that sounds like it was plucked straight from a tech startup pitch, has launched YLDS. This little gem is pegged to the US dollar and promises daily yield payments to its lucky holders. đ
Stable Coin News: Long time guest on The Office Space @FigureMarkets receives #SEC approval for their $YLDS interest bearing Stable Coin â the first of its kind.
The stablecoin, called YLDS and developed by the digital assets firm Figure Markets, will be pegged to the U.S.âŠ
â MartyParty (@martypartymusic) February 20, 2025
Now, what makes YLDS the cool kid on the block? Unlike its more popular cousins like USDT and USDC, YLDS is officially registered with the SEC as a security. Thatâs right, folks! Itâs like getting a VIP pass to the finance party, while the others are still waiting in line. đș
Figureâs CEO, Mike Cagney, is strutting around like he just won the lottery, claiming this approval is a game-changer. Heâs asking the big question: why do we even need banks anymore? If you can hold your assets, self-custody your funds, earn interest, and transact like a boss, who needs a bank? đ€
âIf I can hold this, if I can self-custody this, if it pays me interest, and I can actually use it to transact, what do I need a bank for?â Cagney told Fortune.
And guess what? The SECâs year-long approval process coincides with a surge in demand for stablecoins. According to DeFiLlama, the stablecoin market cap has nearly doubled from its bear market lows, hitting around $225 billion. These digital currencies are basically the dollarâs cooler, younger sibling in the crypto trading and DeFi world. Meanwhile, traditional banks are starting to hop on the bandwagon for global transactions. Talk about a plot twist! đ

Stablecoins market capitalization reached over $225 billion. Source: DeFiLlama
YLDS Offers 0.5% Daily Yield, Unlike Tetherâs Zero
Now, letâs talk about the juicy part: YLDS is offering a daily yield of 0.5%. Thatâs right, folks! While Tether (USDT) is sitting there with its zero, YLDS is ready to outshine the competition. Tether made a jaw-dropping $13 billion in profits last yearâbasically the same as Mastercardâs net income. Can you say âmoney movesâ? đ°
CEO Mike Cagney believes this interest-sharing model is YLDSâs secret weapon. Sure, there are yield-bearing stablecoins out there, but many are playing in the legal gray area. The SEC has had its eye on these tokens before, including Binanceâs now-defunct stablecoin, but that case was dropped faster than a hot potato. đ„
The competition is heating up! Ripple and PayPal are rolling out their own stablecoins, but YLDS is strutting in with a regulatory edge. This could make it the belle of the ball for investors and institutions alike. đ
YLDS Goes Public â KYC Now a Must for Buyers
Now, hereâs the catch: because YLDS is a publicly registered security, buyers must complete a Know-Your-Customer (KYC) process. Itâs like a bouncer checking IDs at the clubâno KYC, no interest. If you donât pass the KYC, you can still hold the asset, but you wonât be earning that sweet daily interest. Sorry, not sorry! đ
Figure plans to make YLDS available for users starting Thursday, marking a major milestone in the evolution of stablecoins. The global stablecoin market has crossed $200 billion, and these digital assets are being recognized as a bridge between
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2025-02-21 03:12